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Wednesday, August 19, 2009

More retain than retrench.

Good trend amongst companies in Malaysia, its more about retaining staff than retrenchment. The Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM) said 66% of the 306 companies it surveyed were willing to retain their workers during the current challenging economic situation, reported Sinchew Daily.

According to ACCCIM’s 2009 Malaysia First Half Year Economy Report, this shows a 14% increase in companies willing to keep their workers compared with the second half of last year.

The daily quoted its economic survey panel head Datuk Chua Tia Guan as saying that the economy continued to decline due to government policies, operating costs, higher prices of raw materials and lower local and global demand in the first half of the year.

ACCCIM, which received 306 replies from the 699 questionnaires sent out said 85% of the respondents were small and medium enterprises specialising in wholesale and retail trade, manufacturing, business services and construction.